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Tangible Personal Property

Taxscribe for Tennessee Business Owners & CPAs

Modern personal property tax filing for Tennessee — prepare your return in minutes, import fixed assets, and e-file to participating jurisdictions or email a print-ready PDF to your local assessor.

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What is Tangible Personal Property tax?

Tangible Personal Property is all property owned or held by a business to operate that business, including but not limited to, furniture, fixtures, vehicles, tools, machinery, equipment, raw materials and supplies.

Who should file Tangible Personal Property?

Tangible Personal Property is filed by all partnerships, corporations, other business associations not issuing stock and individuals operating for profit as a business or profession, including manufacturers, except those whose property is entirely assessable by the Comptroller of the Treasury
Filing deadline
March 1
Late penalty
25% penalty for non-compliance

When you should file:

The schedules that are mailed out are to be completed and returned by the business owner or the business owner's representative by March 1 to the county assessor.

Important Notes About Tangible Personal Property:

  • The tangible personal property schedules are mailed by February 1 by the county assessor to each business operating in the county. If the business owner does not receive a schedule (s)he should call the local assessor's office for a schedule.
  • If a business owner fails to complete and file a schedule, the Assessor of Property must make a "forced assessment" regarding the quantity and value of the personal property held by that business by using information available on businesses of similar size and function, plus apply a 25% penalty for non-compliance
  • If the business owner timely files (on or before March 1) a schedule and determines later that an error occurred on the schedule, the business owner will have until September 1 the following year to amend the schedule.
  • Contact your local county assessor for more information

Coverage

How Taxscribe works in Tennessee

Taxscribe supports Tangible Personal Property filing across Tennessee. Where your jurisdiction participates in Taxscribe's e-file program, you can submit directly; elsewhere, generate a print-ready PDF and email or mail it to your local assessor. Contact us to see if your jurisdiction participates.